Streaming and video platform Rumble has offered to buy TikTok in response to a potential nationwide ban on the Chinese-owned app.
Lawmakers in the United States are pushing for a nationwide ban on TikTok, which they believe is the most effective way to restrict the app. The US government has security concerns about TikTok, fearing that ByteDance, the app's Chinese owner, could be pressured to share user data with the Chinese government.
Facing a potential ban if new legislation passes in Congress, ByteDance would be forced to either sell TikTok or risk a shutdown. This has previously attracted interest from former Activision CEO Bobby Kotick and other potential buyers.
I have always said instagram is obsolete.
— The Vibe Healer ✨ (@jamiesversion) March 28, 2023
There will always be a new company.
Today, I discovered Lemon8.
A cross between Tik Tok, Instagram, & Pinterest 🫶
In anticipation of a potential US ban on TikTok, ByteDance reportedly planned to launch the Lemon8 app. The Lemon8 app allows users to create content across various lifestyle categories, similar to a mix between Pinterest and Instagram.
TikTok sale heats up: Rumble unveils bold acquisition offer
Florida-based Rumble has now entered the fray to buy TikTok. Taking a public approach, the online video platform's CEO Chris Pavlovski issued an offer directly to ByteDance's CEO Shou Zi Chew on social media, stating it is ready to "acquire and operate TikTok in the US."
Elaborating on Rumble's proposal, Pavlovski highlighted their secure US-based cloud storage, built with the commitment to "the free and open internet," which also aligns with the US government's concerns about TikTok.
An offer for TikTok from our CEO @chrispavlovski pic.twitter.com/lIeZ6IXANU
— Rumble 🏴☠️ (@rumblevideo) March 12, 2024
Rumble's offer comes amid threats from the House of Representatives to ban TikTok. Lawmakers are pressuring TikTok's parent company to sell the app citing national security concerns about the Chinese government's potential access to sensitive user data.
Following Pavloski's offer, Rumble's shares shored by more than 15 per cent. "In the event that ByteDance divests its ownership in TikTok, Rumble is ready to join a consortium with other parties seeking to acquire and operate TikTok inside the United States," the CEO wrote.
Pavlovski announced the launch of Rumble Cloud just one day before the company's public offer to acquire TikTok. Pavlovski touted Rumble Cloud's ability to combat censorship and support a "free and open internet," according to Fox Business.
This is a historic moment for Rumble and for the free flow of information. Most online information flow is controlled by an oligopoly which can turn the lights off at any moment, like they did to Parler.
— Chris Pavlovski (@chrispavlovski) March 11, 2024
Today, that ends with Rumble Cloud. https://t.co/WgdRo4XPbY
"This is a historic moment for Rumble and for the free flow of information. Most online information flow is controlled by an oligopoly which can turn the lights off at any moment, like they did to Parler," Pavlovski said following the launch of Rumble Cloud.
The top executive also emphasised the company's commitment to freedom of expression, aligning with concerns some TikTok users have about potential censorship in a US ban. Rumble positions itself as one of the few remaining "neutral" and "independent" platforms for users concerned about losing those principles.
